Virginia Business Ready Sites Program

What Virginia Business Ready Sites Program does

Virginia Economic Development Partnership (VEDP) is the Commonwealth of Virginia's primary economic development organization, established in 1965 and headquartered in Richmond, Virginia. It operates the Virginia Business Ready Sites Program (VBRSP) as one of several programs aimed at promoting the characterization and development of industrial and commercial sites across the state. VEDP provides free advisory services to companies considering Virginia for new or expanded operations, including tailored consultation, site selection, certified shovel-ready site identification, workforce training and recruitment through the Virginia Talent Accelerator Program, incentive administration, and international trade support via offices in Europe, Korea, Japan, and Taiwan.

VEDP does not sell products; it is a state agency funded through Commonwealth of Virginia appropriations. Revenue mechanics are government appropriations plus the management of discretionary incentive programs such as the Virginia Jobs Investment Program (VJIP), the Commonwealth's Opportunity Fund, the Tobacco Region Revitalization Commission's co-investment vehicles, and the newly launched InternshipsVA ($14.5M annual commitment). Customer segments include new and expanding businesses (both domestic and international), existing Virginia businesses, advanced manufacturers, and small/mid-size employers seeking workforce and internship support. Notable assisted projects span Amazon HQ2, Micron's $2.2B Manassas expansion, Microporous's $1.35B Pittsylvania facility, Microsoft, LEGO, Hilton, Hershey, Wells Fargo, Huntington Ingalls, and Danone North America.

Operationally, VEDP runs a regional model with embedded Business Retention, Talent Solutions, and International Trade Managers across seven regions covering 133 localities, supported by a contact center that completed 38,000+ prospect calls in FY25 and self-service tools including the VirginiaScan Sites & Buildings database and the password-protected Interactive Virginia Sites (iVS) platform. Since 2020, VEDP has supported 500+ project wins, 68,000+ direct jobs, and $104B+ in capital expenditure, with the Virginia Talent Accelerator Program ranked #1 nationally by Business Facilities for three consecutive years.

Name

Virginia Business Ready Sites Program

Legal name

Virginia Economic Development Partnership

Website

https://vedp.org

Company type

Private

Founded year

1965

Operating status

Operating

Headcount range

101–250 employees

Short description

Virginia Economic Development Partnership (VEDP), operating the Virginia Business Ready Sites Program, is Virginia's state economic development agency providing free site selection, workforce training, incentive administration, and international trade services to businesses locating or expanding in Virginia, funded by state appropriations and serving companies from startups to global enterprises.

Ownership category

akta.pro rank

Headquarters

HQ city

Richmond

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Government Funding: VEDP is a state government agency funded by the Commonwealth of Virginia. Services provided to businesses are free of charge, including consultation, site selection support, talent solutions, and training programs.
2. Incentive Program Administration: VEDP administers various economic development incentive programs including the Virginia Talent Accelerator Program (provided at no cost to qualified new and expanding companies as an incentive for job creation), Virginia Jobs Investment Program, Commonwealth's Opportunity Fund, and other discretionary incentives.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels10 records

Core offering

VBRSP is a discretionary program that promotes characterization and development of industrial and commercial sites across Virginia, helping localities prepare shovel-ready locations for business recruitment and expansion. Operated within VEDP, it is part of a broader suite of free business advisory services including site selection, customized workforce training, incentive administration, and international trade support for new and expanding businesses.

Product overview

The Virginia Business Ready Sites Program (VBRSP) is a single focused program operated by the Virginia Economic Development Partnership (VEDP). It promotes the characterization and development of industrial and commercial sites across the Commonwealth, helping localities prepare shovel-ready sites for business recruitment and expansion.

Differentiator

Problem solved

Functional benefit

Brands

• Virginia Talent Accelerator Program: World-class customized workforce training and recruitment solutions ranked #1 in the nation by Business Facilities
• Virginia Jobs Investment Program
• Virginia Business Ready Sites Program
• InternshipsVA
• Virginia Leaders in Export Trade (VALET)
• Virginia Economic Review
• Virginia Economic Gardening Program

Products and services

• Virginia Business Ready Sites Program (VBRSP) A discretionary program that promotes characterization and development of industrial and commercial sites across Virginia, helping communities prepare shovel-ready locations for economic development projects and business recruitment.
• Virginia Talent Accelerator Program World-class customized workforce training and recruitment solutions delivered through a partnership with the Virginia Community College System, fully customized to a company's unique operations, equipment, standards, and culture. Provided at no cost to qualified new and expanding companies.
• Virginia Jobs Investment Program (VJIP) Program that reduces a company's talent development costs through grant funds, consulting, and coordination, supporting 218 client projects and 13,524 direct jobs filled in FY25.
• Export Virginia / International Trade Division International trade services helping Virginia companies export products and services, including Global Defense Program, International Market Research, State Trade Expansion Program (STEP), Trade Missions, and Virginia Leaders in Export Trade (VALET). Served 519 companies and generated $2.3B in total international sales in FY25.
• Virginia Office of Education Economics (VOEE) Provides unified, consistent analysis for policy development and implementation related to talent development, offering resources and expertise related to education and labor market alignment.
• InternshipsVA Statewide program helping Virginia employers design and launch paid internships for higher education students. Partnership with Handshake provides tailored guidance, recruitment tools, and resources, with a 50% wage match available for qualifying employers.
• Virginia Economic Gardening Program Program providing qualifying second-stage Virginia companies with custom resources to identify and resolve distinct growth challenges.
• Site & Real Estate Advisory Customized site searches, certified shovel-ready site options, and expert guidance through every step of the location selection process for businesses locating or expanding in Virginia.

Quantifiable outcome

• 500+ project wins since beginning of 2020
• +4 more outcomes

Named customers15 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered core and major.

• HandshakecoreStrategic or Co-development Partner · 23 February 2026Handshake partnership provides tailored guidance, recruitment tools, and resources for the InternshipsVA program, helping employers design and launch paid internships for higher education students. This partnership supports Virginia's talent pipeline connecting students with real-world career experience.
• Virginia Community College SystemcoreStrategic or Co-development PartnerVEDP partners with the Virginia Community College System to deliver the Virginia Talent Accelerator Program, providing world-class training and recruitment solutions fully customized to a company's unique operations, equipment, standards, and culture.
• Regional Economic Development PartnerscoreStrategic or Co-development PartnerVEDP works in partnership with local and regional economic development partners across Virginia's 133 localities and 7 regions. Regional Business Managers work with these partners to carry out targeted outreach strategy to key Virginia businesses.
• Virginia Tobacco Region Revitalization CommissionmajorStrategic or Co-development PartnerThe Tobacco Commission has invested nearly $35 million in the Southern Virginia Megasite since 2008 and approved up to $25 million in low-interest financing for major natural gas service to support economic development projects.
• Danville-Pittsylvania County Regional Industrial Facility AuthoritymajorStrategic or Co-development PartnerRegional industrial development authority that worked with VEDP to secure major projects like Microporous at the Southern Virginia Megasite, providing site infrastructure and coordination.
• Southern Virginia Regional AlliancemajorStrategic or Co-development PartnerRegional alliance supporting economic development in Southern Virginia, collaborating with VEDP on major project attraction and regional competitiveness.
• Major Employment and Investment Project Approval Commission (MEI Commission)coreStrategic or Co-development PartnerThe MEI Commission provides approval for major economic development projects and special appropriations. VEDP works with the Commission to secure projects for Virginia with performance-based incentive packages.
• Port of VirginiacoreStrategic or Co-development PartnerThe Port of Virginia is a key infrastructure partner providing global shipping access. VEDP collaborates with the port to support companies' logistics needs and companies are eligible to apply for state grants from the Port of Virginia.
• Virginia universities and collegescoreStrategic or Co-development PartnerVirginia's 40+ colleges and universities fuel research and prepare talent. VEDP collaborates with higher education institutions on workforce training, research partnerships, and talent pipeline development.
• Virginia Office of Education Economics (VOEE)coreStrategic or Co-development PartnerVOEE provides unified, consistent analysis for policy development and implementation related to talent development, offering resources and expertise related to education and labor market alignment.

Scale indicators11 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Ohio Department of Development: Ohio's state economic development department with a parallel focus on site readiness, incentive programs, and workforce talent. Comparable in scope and frequently competes for the same large-scale manufacturing and tech projects.
• Georgia Department of Economic Development: Georgia's state-level economic development agency with comparable mandate for site selection, workforce development, incentive administration, and FDI attraction. Direct competitor for marquee projects (e.g., Hyundai Metaplant, Rivian, recent data center wins) in the Southeast.
• South Carolina Department of Commerce: South Carolina's lead economic development organization offering site selection, workforce, and incentive services directly comparable to VEDP. Frequent competitor for automotive, aerospace, and manufacturing investments in the Southeast.
• North Carolina Department of Commerce: North Carolina's economic development arm with overlapping focus on advanced manufacturing, life sciences, and data centers. Direct competitor in the Southeast/Mid-Atlantic corridor, especially for semiconductor, biopharma, and clean-energy projects.
• Pennsylvania Department of Community and Economic Development: Pennsylvania's lead economic development agency with site selection, workforce, and incentive programs that parallel VEDP's offerings. Regional competitor in the Mid-Atlantic for advanced manufacturing and data center projects.
• California Governor's Office of Business and Economic Development (GO-Biz): California's statewide business and economic development office, offering site selection, permitting assistance, and incentive coordination. A peer in mandate and scale, though operating in a fundamentally different regulatory environment.
• Florida Department of Economic Opportunity: Florida's primary economic development agency delivering site selection, incentive administration, and workforce services. Comparable scope and a frequent competitor for headquarters relocations and distribution/logistics investments.
• Tennessee Department of Economic and Community Development: Tennessee's state economic development agency with parallel programs in site selection, incentives, and workforce development. Competes head-to-head for automotive, EV battery, and advanced manufacturing projects in the Southeast.
• Texas Office of the Governor - Economic Development: Texas's statewide economic development function, with a comparable mandate to attract corporate investment, facilitate site selection, and support workforce development. Key competitor for the largest U.S. capex projects.
• New York Empire State Development: New York's principal economic development agency, providing grants, tax incentives, and site-related services. Comparable in scope and frequently a counterparty for large semiconductor and life-sciences projects.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/vedpvirginia
• Facebookfacebook.com/VAEconomicDevelopmentPartnership
• LinkedInlinkedin.com/company/virginia-economic-development-partnership

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Virginia Business Ready Sites Program